Strong Wheat Sales Lift the Grain
Strong wheat sales helped provide support for the grain, but significant cancellations is putting pressure on soybeans which bumped against the 100 day moving average yesterday.
In the overnight session the grains were mixed with corn up 1/2 cent, soybeans down 6 cents and wheat up 6 1/4 cents this morning. The U.S dollar is higher by only a fraction of a percent and crude oil is down 53 cents this morning. This morning exporters sold 132,000 metric tons of soybeans...[Read More]
Soybeans Test the 100 Day Moving Average
Cody looks in the technicals of soybeans as it tests the 100 day moving average. Is this the start of a rally?
Soybeans to test 100 day moving average
Soybeans printed a bullish price pattern in the last two trade sessions. Can it break through overhead resistance at the 100 day moving average?
In the overnight session the grains were mixed with corn up 1 cent, soybeans up 9 3/4 cents and wheat down 1/2 a penny. The U.S. dollar is trading a fraction of a percent lower and crude oil is higher by 73 cents. This morning the ADP jobs data showed that 185,000 workers were added to...[Read More]
Bears and Bulls Continue to Battle it Out!
Cody reviews the chart technicals and weather outlook for the week.
Conditions Improve for Soybeans
The crop conditions report showed soybean ratings improved over last week.
In the overnight session the grains traded higher with corn up 3 1/4 cents, soybeans up 10 1/2 cents and wheat up 3 3/4 cents. The U.S. dollar is down .20 percent this morning with crude oil up 88 cents. Corn and soybeans seemed to find some buying support during yesterday’s session with...[Read More]
Positive Signs for Crop Yield
Cody looks at the charts, weather, and world news.
Soybean Prices Dip Again
Soybean prices fell again on Monday as ideal weather is mostly positive for early august during a critical development period.
In the overnight session the grains traded lower with corn down 5 1/4 cents, soybeans down 8 3/4 cents and wheat down 5 1/4 cents. The U.S. dollar is trading .21 percent higher and crude oil is down nearly a dollar on news that China’s factory activity contracted the most in two years.
Soybean Basis Wars are Heating Up
Cody looks at weekly basis changes and a yield forecast for Planalytics.
Weekly Cash Comments
Cash Commentary for week ending 31 July 2015
Cash grain basis was mixed this week with corn basis up 2 cents a bushel, while soybean basis was off 2 cents a bushel.
In corn, basis levels were mostly firmer in Iowa and Nebraska as ethanol plants have bid higher in an interest to get more farmer grain after the recent sell off. In...[Read More]